According to the Financial Habitudes website, couples that have disagreements about money are 30% more likely to divorce than couples that have a financially healthy relationship.
Talking about managing money may be as important as the question of how to raise kids. Partners may have different beliefs about their spending habits and saving patterns. That’s why the money talk should take place between partners as soon as possible.
Here’s how you address the issue and possible points to talk on.
1. Pick the Right Moment
In order for the talk to be at its most productive, you should pick the right moment to raise the question. If your partner is having a tough day at work or being challenged by personal problems, the talk wouldn’t bring anything good.
If you want to ask a partner to help you pick a short term loan institution, pick the right time and mood.
2. Start with Small Things
If want to have a bountiful conversation about your future financial goals, start small. Discuss how much you’re going to spend on the next vacation, for example. If it’s the retirement plan that bothers you, ask the partner about his career goals and plans for the future.
Some financial topics may be tricky to address, but when you do get to them, you’ll solve the real issues that were ailing you.
3. Don’t Lie about Money (and don’t hide money problems from your partner)
At first, you should know that lying to your partner about money is as bad as not seeing the problem. Financial troubles do affect both people in the couple. So, first, admit the problem to yourself and then turn to your partner for financial advice.
4. Consider Different Money Options
When you do get to the money talk, always have an open mind. Consider your partner’s spending pattern and either adjust yours or come up with new money habits together. Help your partner and let him help you as well.
5. Talk Early on
When you already have a money problem and ask your partner for help, then you’re already late. You may have already have had kids and had a place together and just now may be starting to figure out that you have completely different thoughts on how to budget oh how much to save.
So, before you have joined accounts or your partner asks you to be his co-signer for a loan, discuss smaller money issues.
6. Start Questions with: “What if…”
This hypothetical question may tell a lot about your partner’s views on financial goals, good credit score, saving pattern. A simple question about a hypothetical lottery win will tell plenty about the partner’s personal and financial self.
Talking about imaginary people who made some financial decisions and discussing them will also bring up unknown sides of your partner.
7. Create a Mutual Financial Goal
Sticking up to a financial goal can serve a good example of what your shared financial life will look like. Make sure your partner follows the agreement.
8. Keep it real
Some people need to make mistakes before they know their financial habits. Other people will prevent any money problems they will have in the future by tracking every penny with a special app.
In order to have a healthy financial relationship, be patient with your partner. Don’t expect him to change his money habits right away. Also, try to look at money his way if he’s forcing his habits on you.
When having had a hypothetical talk about the money, remember that money problems are real and serious. So, come up with a list of questions you want to know and be sure to give honest answers to your partner’s questions as well.
The money talk may start with a simple issue of separate or joined budgets and end-up with a serious issue of the retirement type plan. So, having the money conversation should be early and in the right moment pays well in the future.
Talking about managing money may be as important as the question of how to raise kids. Partners may have different beliefs about their spending habits and saving patterns. That’s why the money talk should take place between partners as soon as possible.
Here’s how you address the issue and possible points to talk on.
1. Pick the Right Moment
In order for the talk to be at its most productive, you should pick the right moment to raise the question. If your partner is having a tough day at work or being challenged by personal problems, the talk wouldn’t bring anything good.
If you want to ask a partner to help you pick a short term loan institution, pick the right time and mood.
2. Start with Small Things
If want to have a bountiful conversation about your future financial goals, start small. Discuss how much you’re going to spend on the next vacation, for example. If it’s the retirement plan that bothers you, ask the partner about his career goals and plans for the future.
Some financial topics may be tricky to address, but when you do get to them, you’ll solve the real issues that were ailing you.
3. Don’t Lie about Money (and don’t hide money problems from your partner)
At first, you should know that lying to your partner about money is as bad as not seeing the problem. Financial troubles do affect both people in the couple. So, first, admit the problem to yourself and then turn to your partner for financial advice.
4. Consider Different Money Options
When you do get to the money talk, always have an open mind. Consider your partner’s spending pattern and either adjust yours or come up with new money habits together. Help your partner and let him help you as well.
5. Talk Early on
When you already have a money problem and ask your partner for help, then you’re already late. You may have already have had kids and had a place together and just now may be starting to figure out that you have completely different thoughts on how to budget oh how much to save.
So, before you have joined accounts or your partner asks you to be his co-signer for a loan, discuss smaller money issues.
6. Start Questions with: “What if…”
This hypothetical question may tell a lot about your partner’s views on financial goals, good credit score, saving pattern. A simple question about a hypothetical lottery win will tell plenty about the partner’s personal and financial self.
Talking about imaginary people who made some financial decisions and discussing them will also bring up unknown sides of your partner.
7. Create a Mutual Financial Goal
Sticking up to a financial goal can serve a good example of what your shared financial life will look like. Make sure your partner follows the agreement.
8. Keep it real
Some people need to make mistakes before they know their financial habits. Other people will prevent any money problems they will have in the future by tracking every penny with a special app.
In order to have a healthy financial relationship, be patient with your partner. Don’t expect him to change his money habits right away. Also, try to look at money his way if he’s forcing his habits on you.
When having had a hypothetical talk about the money, remember that money problems are real and serious. So, come up with a list of questions you want to know and be sure to give honest answers to your partner’s questions as well.
The money talk may start with a simple issue of separate or joined budgets and end-up with a serious issue of the retirement type plan. So, having the money conversation should be early and in the right moment pays well in the future.